Global In Vitro Diagnostics Market Research Report 2021
Bharat Book Bureau Provides the Trending Market Research Report on “Global In Vitro Diagnostics Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2027” under Life Sciences Market Research Reports Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
According to Bharat Book Bureau analysis, the In Vitro Diagnostic Market is expected to grow at low single digit CAGR from 2021 to 2028 to reach $96,485.2 million by 2028. The factors such as the growing incidence of chronic and infectious diseases, increasing adoption of point-of-care testing, the emergence of Next-generation molecular diagnostics, minimally invasive and non-invasive in-vitro diagnostics, rising number of CLIA-waived tests are driving the growth of the IVD market. However, the rising number of product recalls, lack of skilled laboratory technicians in developing nations, inadequate reimbursements, and stringent regulatory framework is expected to hamper the market growth.
The in-vitro diagnostics global market is segmented based on products, technology, applications, sample source, end-users and geography. The products market is segmented into instruments, reagents and software & services, where, reagents commanded the largest share of the market in 2021 and is expected to grow at low single digit CAGR from 2021 to 2028.
The IVD global market based on application is segmented into oncology, diabetes, infectious diseases, genetic testing, cardiology, autoimmune diseases, drug testing, nephrology, transplantation, Blood & related disorders, and others, among them, the infectious disease segment commanded the largest revenue in 2021, the transplantation segment is expected to grow at high double digit CAGR from 2021 to 2028. The oncology market is further sub-segmented based on cancer types into lung cancer, breast cancer, colorectal cancer, prostate cancer, melanoma, ovarian cancer and others, among which, colorectal cancer commanded the largest share in 2021 and the market is expected to grow at a high single digit CAGR from 2021 to 2028. The oncology market based on cancer care is further sub-segmented into diagnosis, early screening, companion diagnostics, prognosis and recurrence monitoring, where, diagnosis commanded the largest share of the market in 2021, the companion diagnostics segment is expected to grow at high single digit CAGR from 2021 to 2028. The infectious disease market is further sub-segment into bacterial, viral infection, fungal and others among which the viral infection commanded the largest share of the market in 2021.
The IVD global market based on sample source is segmented into blood, urine, mucus and others, among which blood commanded the largest share of the market in 2021, and is expected to grow at mid single digit CAGR from 2021 to 2028. The blood-based tests provide accurate results when compare to other sources, and, they are suitable sample sources for early diagnosis before the occurrence of symptoms.
The In-vitro diagnostics end-user market is segmented into diagnostic laboratories, hospitals, academics and research centers, homecare and other end-users. The hospitals' segment accounted for the largest revenue in 2021 and is estimated to grow at low single digit CAGR from 2021 to 2028 due to the availability of advanced and novel technologies for the diagnosis and also the availability of skilled professionals with more capital investments.
Geographical-wise, the North America region commanded the largest revenue in 2021 owing to the high demand for early detection, treatment and prevention tests with advanced technology. However, the Asia-Pacific region is expected to grow at mid single digit CAGR from 2021 to 2028 with increasing awareness for the highly precise, rapid and advanced tests for a better outcome.
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
• Rest of the World (RoW)
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